Gemphire Therapeutics files for $60 million IPO

Tom Henderson - Northville-based Gemphire Therapeutics Inc., a cardiovascular drug development company, has filed form S-1 with the U.S. Securities and Exchange Commission for a $60 million initial public offering. It hopes to be listed on the Nasdaq Global Exchange under the symbol GEMP. No date has been set for the offering. The clinical-stage company is developing a cardiovascular drug called gemcabene to lower levels of low-density lipoprotein cholesterol, the so-called bad cholesterol, and of